a generic tag related to accumulating cash or bank deposit savings.

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0
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0answers
26 views

Best approach for saving/invest to move to another country

I'm planning to move to another country within 3 or 4 years, i'm currently living in México. Currently i don't have any debts and about $40k saved in pesos. My question here is if it's worth saving ...
0
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0answers
90 views

How to save money by minimizing spending? [closed]

What are the best ways to maximize savings for the purpose of maximizing investment with the following parameters: Above Average Earner, but not C-suit level Single Young Be specific.
11
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3answers
443 views

$700 guaranteed to not be touched for 15 years+, should I put it anywhere other than a savings account?

My daughter's piggy-bank was recently broken, and so we took the opportunity to count up the money saved, and put it away. We have an on-going account that we put money into every paycheck through an ...
0
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2answers
41 views

What is a term to describe when a percentage of the amount of money paid is taken away from the goods given?

I have a system, where a 2% "charge" (for want of a better term) applies to all transactions. Users can pay $100, and then they will top up for 98% of that amount (top up for $98). I was thinking of ...
0
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3answers
82 views

What type of an account to store emergency fund? [duplicate]

I'm working on building up my emergency fund. I put the money into an Ally online savings account yielding 1% interest. Would it be wise to put the money somewhere else that gives a higher rate of ...
1
vote
1answer
64 views

Saving in foreign currencies

I live in the UK and am looking at opening a USD account. The primary reason for this is that I work for an American company whose employee share plan deals in USD, so it is required for that. However,...
0
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1answer
40 views

Interest on American dollars in Australian bank account

I have American dollars in an Australian bank account, which doesn't accrue any interest. Is there a way of getting interest on it?
2
votes
3answers
167 views

Easiest way to diversify savings

Finance has always been a bit of a black art beyond current and savings accounts, so I'm hoping this makes sense. In light of the possibility of Britain leaving the EU (that isn't the actual reason, ...
2
votes
4answers
190 views

Is buying foreign currency(specifically Pounds) a good saving/investment strategy? If so(or not) why?

As stated in the question. If i buy small amounts of Pounds consistently on a monthly basis, could that be considered a good way of saving with the obvious goal of ending up with more than what i ...
1
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1answer
90 views

Savings Account

I have a question about a savings account I have with Wells Fargo. I have had the account my whole childhood, and am turning 18 in less than 2 weeks. I am pretty sure it is a "minor by" savings ...
1
vote
3answers
277 views

Are secret stashes worth it? [closed]

To rid the question of the "generality" tag, perhaps I should mention that I'd just like to know the top 5 most used techniques. I first heard about this from the movie "Pain and Gain" (which is ...
4
votes
1answer
102 views

Does my (British) bank have to notify me a specific amount of time before reducing interest rates?

I have some savings for Uni in a 3% interest bank account - the best I can get on that amount of money. However, today (12th of May) I received a letter, from the bank, saying that the interest rate ...
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0answers
19 views

Claiming tax benefit for the pre construction period home loan interest paid

Can the tax benefit be claimed for the pre-construction period of the home loan interest paid for the let out property,after construction of the house.(In my case the period of construction is more ...
1
vote
1answer
69 views

Taxes in the UK

I am an EU citizen that recently moved to the UK. I lived in another EU country for the last few years and started a pension saving account there. This account is still open but I live and work in the ...
0
votes
1answer
91 views

How to recover money from old closed/dormant bank accounts in the U.S.?

Can anyone answer how to recover cash from (old) closed bank accounts from banks in usa?
0
votes
1answer
61 views

Looking for advice on my first investment [duplicate]

I am 32 years old and single, looking for some advice on what I can do with about $10k for my first investment. I currently just have it sitting in the bank and would prefer to use some type of ...
0
votes
1answer
40 views

Interest Rate vs. Annual Percentage Yield (APY) [duplicate]

I'm curious as to what the difference between the Interest Rate and Annual Percentage Yield is. For example: This Bank I was looking at offers 0.45% interest rate on savings account balances over $...
3
votes
1answer
233 views

21 years old and saved up $20,000 from working. What should I do with it?

My main concern is making the $20,000 that I currently have saved, substantially grow. - I currently am able to put roughly $500 into my savings at a bi-weekly period due to my part time job. - I am ...
4
votes
1answer
162 views

Getting retirement savings back on track after 30

I've largely ignored dealing with my finances in the past, mostly because I really, really hate dealing with them, and as a result have made some poor decisions. I've been making good money but I've ...
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votes
1answer
66 views

Money market/savings accounts are only worth it with higher savings. True or false? [closed]

I've checked all bank's APY and they are all extremely low. If you don't have at least six figures you won't even make 1/7th of 1/100th of your total. If someone has a couple of thousands in their MMA/...
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vote
2answers
195 views

Highstreet bank fund, custom ETF or Nutmeg?

I want to start investing a regular monthly amount to a fund, and by choosing a highstreet bank fund I'm wondering if I'm not making a mistake. Basically, the fund they are trying to sell has, in ...
2
votes
1answer
72 views

Balance transfer reward, is there a downside?

My credit union is offering a credit card promotion, 2% cash back on balance transfers No balance transfer/cash advance fees I currently have ~$13k in savings/CDs earning 1%-1.1%. Is there a ...
0
votes
2answers
124 views

Healthy money saving tips for a young person [closed]

I'm 19 and I always spend my money on stuff I don't need and I'm trying to save enough money to build a tiny house in the next two years. Any advice on how to save up about $10,000 and stay ...
35
votes
2answers
2k views

Where can I put savings for my kid that I literally cannot withdraw from?

I currently have a second savings account where I'm saving money for my child's future - most likely it will be used for their college and/or wedding. I've heard horror stories of parents stealing ...
0
votes
2answers
147 views

Saving/ Investing a lump sum

I have recently come to a settlement agreement with my employer, to terminate my contract. As part of the agreement, I am expecting to receive a pay off in one lump sum. I do not have any immediate ...
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2answers
131 views

Smartest Place to Put Tax Refund

Background: I graduated from university 9 months ago with roughly $30k USD in student loan debt, with interest rates from 3.1% to 6.5%, minimum payments are $300/month. Loan balances are from $2500 ...
3
votes
1answer
113 views

What percent of minimum wage should I save from today,if I expect a certain percent of the then minimum wage,as income from corpus,after retirement?

I am trying to evolve a simple formula or a thumb-rule (under assumptions) to answer the question " Am I saving enough for my retirement ? " or "How much should I save today ?". But, not in absolute ...
41
votes
10answers
11k views

Is paying off your mortage a #1 personal finance priority?

Everyone always says and aims to "pay off my mortgage" But in the current climate of low interest rates is this really worth it? Should that money be put to use earning a higher yield? OR Does the ...
1
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1answer
89 views

How to reach an apt going against inflation

I live in Argentina and I am 21 years old. One of my goals is to buy an apartment but the problem is the more money I have, the more money I am losing because of inflation. One of the options is to ...
5
votes
2answers
1k views

30, debt free and looking to invest $500-$1,000 a month [closed]

I'm 30, debt-free, make max contributions to my Roth IRA and 401(k) and have six months of living expenses in a high-yield online savings account. I live frugally and am gainfully employed. At this ...
15
votes
4answers
5k views

Paying Off Student Loans Early

I currently owe $34,558.00 in student loans ($31,000.00 principal + $3,601.83 unpaid interest accrued so far) with an average interest rate of 4.877%. I just started working full time ($70,000 GAI) ...
1
vote
2answers
170 views

Tips for a 21 year old on looking to invest [closed]

I am a 21 year old Computer Science student currently on a year out Placement at a Software Company where I am earning £17,000 a year. I'm half way through the placement and have saved £4,000 of the ...
0
votes
1answer
97 views

What would you say is the ideal percent of money per check should go into your savings account? [closed]

I would typically for me I'd say 12 - 20%. That way even if its a small check due to hours I'll still be able have some cash in hand.
2
votes
3answers
531 views

Does girlfriend have too much savings, time to invest?

My girlfriend is quite frugal and has successfully maintained an emergency fund of about $15,000 with an "incidentals" account that sits around $3,000. She does not earn a lot of money, about $35,...
12
votes
3answers
2k views

Least unsafe investment vehicle that meets or exceeds inflation?

Let's say I have an account with $30,000 set aside for long-term unemployment, medical emergency, etc. This account will most likely (and hopefully) remain unused for at least 5-10 years. I could ...
4
votes
1answer
139 views

Investing savings in the UK vs Australia

I have been living in Australia for 4 years now, and although I don't intend to live here forever, I will be here for the foreseeable future. I have savings in the UK and here in Australia, and am ...
20
votes
6answers
4k views

How safe is a checking account?

I'm 19, and I've been working since high-school. I still live with my parents. All of my money is in a checking account and I often use my Visa card for my purchases. My question is, how safe am I ...
1
vote
1answer
134 views

Saving into 'Help to buy ISA(s)' with partner

My partner and I are planning to buy our first house in the next 2-3 years. This month the UK Government has opened up help to buy ISAs which give a 25% bonus on top of what you deposit in up to a ...
4
votes
4answers
227 views

How can I help my friend change his saving habits?

My housemate is looking to take a trip next year and so for the first time in a while he's actively trying to save some money. He is employed, doesn't have any debts, and even has a bit of savings in ...
4
votes
1answer
641 views

How to maximise savings?

I am in my late 20s, living in the UK, and in my third year of professional work (one year industrial placement, two years since graduating from University). I have very little in the way of monthly ...
3
votes
5answers
197 views

What things are important to consider when investing in one's company stock?

I have been invited to invest a portion of my monthly wages in stocks for the company I work for (they'll match 30% of my investment). I'm interested in putting away some money for my family as I have ...
3
votes
3answers
922 views

31 years old, single, zero debt, engineer making 80k/year, saving 1k/month. How do you get ahead?

I have currently 10k in savings acc, rent an apartment for 1k/month, I don't have a 401(k) (I will start at the beginning of 2016). I'd love to buy a house or apartment next year and start a family in ...
0
votes
1answer
226 views

Can my friend send money (from a different country) to my NRE account?

I have an NRE account and I am saving completely through that account. Now one of my friends is working in Saudi Arabia and has to pay some money to my NRE account, which I opened from Dubai. Is it ...
0
votes
3answers
405 views

Should I buy ~$2200 of a hot stock or invest elsewhere?

Right now I'm 23, decent job ($50k/yr), about $6k in the bank, and about $50k in debt (car loan, student loan, no credit card debt or other 'high interest' debt). I'm about to start putting roughly 8-...
1
vote
1answer
185 views

How should I distribute my savings?

TL;DR How much should I keep as an emergency fund and how should I prioritise/distribute anything surplus to this? I currently have about 5-6x my monthly salary in savings. Currently I keep this ...
2
votes
1answer
122 views

Annuities-with deposits and withdrawals

A college education fund is to be accumulated by twenty level semi-annual deposits, the first due on Juanary 1, 1996. The fund is to provide 16 quarterly withdrawals of $ 1900 each, the first due on ...
5
votes
1answer
147 views

Savings or mortgage overpayment

This question might be too simple, but I just want to make sure I am not missing a crucial detail. I currently have a mortgage which allows free overpayments (up to 10% of the mortgage value each ...
3
votes
6answers
768 views

What should I do with my money?

I'm a final year University student with about 50k (AUD) in the bank earning interest at 2.8%. I have nearly finished my paid full time placement which is why I have a lot of money currently as I ...
0
votes
1answer
189 views

How can I get more interest than the 2.8% my bank is offering me on my $60,000 AUD? [closed]

I have recently been given a $60,000 AUD for the deposit on a house. I have since discovered that I am not earning enough to get a good enough mortgate. I think if I wait a couple of years I'll be ...
3
votes
1answer
111 views

Best way to do savings in India?

I have started to earn a year ago. All my funds are currently in banks. Is there any better way save money than leaving it in a bank account?